New York Session Heads Up July 25 2022

New York Session Heads Up July 25 2022

• Fed To Inflict More Economic Pain As It Readies Big Rate Hike
• Investors Bet The Fed Will Need To Cut Interest Rates Next Year
• Biden’s Covid-19 Symptoms Continue To Improve Significantly
• Yellen: Signs Of A Broad US Recession Aren’t In Sight For Now
• EU Nations Rewrite Plan To Cut Gas Demand, Seek Carve-Outs
• ECB’s Kazaks: Stronger Hikes May Not Be Over After Big Move
• Holzmann: ECB May Endure Moderate Recession To Halt Prices
• Germany ‘On Brink Of Recession’ As Business Confidence Falls
• UK July Industrial Output Growth Weakest Since Apr 2021: CBI
• Bank Of Japan Board Reshuffle Brings In Less Dovish Members
• Oil Prices Steady As Market Juggles Fed Hike With Supply Fears
• European Cash Equity Markets Recover From Opening Declines
• US Futures Gain Ahead Of Busy Week Of Earnings, Fed Meeting
• Fed To Implement Second 75bps Rise Amid Uncertainty Over Next Steps
• ECB Holzmann: ECB May Accept ‘Light Recession’ If CPI Outlook Rises
• German Industry Cuts Production Due To High Energy Prices – DIHK
• Italy Democrats Weigh Election Alliances, Letta Tells Repubblica
• Janet Yellen Says Signs Of Us Recession Aren’t In Sight For Now
• China Plans To Set Up Real Estate Fund Worth Up To $44 Bln
• Aus PM Albanese Calls for China to End Trade Sanctions on Australia
• US Dollar Firm Monday As Fed Meeting And Growth Risks Dominate
• PBoC Official Vows to Protect User Privacy in Digital Yuan Push
• Japan Yield Drops To Four-Month Low On Global Slowdown Fears
• Oil Falls On Concerns Expected Fed Hike Will Impact Fuel Demand
• Asian Shares Start Week Lower, Tracking Wall St Retreat Ahead Of Fed
• China Plans Three-Tier Data Strategy To Avoid U.S Delisting’s
• Credit Suisse Mulls Job Cuts As Losses Rise – Sonntagszeitung
• Boeing Union Workers Reject Contract Offer, Call For Strike – RTRS

Economic Data

• German IFO Business Climate Jul: 88.6 (est 90.1; prev 92.3)
• German IFO Current Assessment Jul: 97.7 (est 97.5; prev 99.3)
• German IFO Expectations Jul: 80.3 (est 83.0; prev 85.8)
• UK CBI Trends Total Orders Jul: 8 (est 13; prev 18)

Crypto

• Pre-Fed Jitters Send Bitcoin Back Into Sub-$22,000 Trading Range – BBG
• The Merge Is Ethereum’s Chance To Take Over Bitcoin – CoinTelegraph
• PBoC Official Vows to Protect User Privacy in Digital Yuan Push – BBG